1.89% Mortgage tracker - anything better?
Discussion
Looking to move the mortgage for a better deal than current (5.25%)
There's all sorts of deals out there with fixed rates etc but this tracker seems good while things are low.
We are in contact with an IFA who has provided good advice over the last 18 years but I'm interested to know what's the good deals and current thinking.
There's all sorts of deals out there with fixed rates etc but this tracker seems good while things are low.
We are in contact with an IFA who has provided good advice over the last 18 years but I'm interested to know what's the good deals and current thinking.
Ranger 6 said:
Looking to move the mortgage for a better deal than current (5.25%)
There's all sorts of deals out there with fixed rates etc but this tracker seems good while things are low.
We are in contact with an IFA who has provided good advice over the last 18 years but I'm interested to know what's the good deals and current thinking.
Is this the FD lifetime tracker?There's all sorts of deals out there with fixed rates etc but this tracker seems good while things are low.
We are in contact with an IFA who has provided good advice over the last 18 years but I'm interested to know what's the good deals and current thinking.
NoelWatson said:
assuming you are happy with tracker
This is the rub... I have been looking at the same product (although at 1.99% - perhaps because I'm not an existing customer?), but then started reading the news about OECD recommending we have a 3%+ base rate in 12 months time... maybe a fix now would be a good idea...?Time to grovel around for my crystal balls!
DH2
DH2 said:
NoelWatson said:
assuming you are happy with tracker
This is the rub... I have been looking at the same product (although at 1.99% - perhaps because I'm not an existing customer?), but then started reading the news about OECD recommending we have a 3%+ base rate in 12 months time... maybe a fix now would be a good idea...?Time to grovel around for my crystal balls!
DH2
http://www2.firstdirect.com/1/2/mortgages/repaymen...
As for fix, depends how much premium you are prepared to pay for peace of mind.
NoelWatson said:
Not sure where you are getting 1.99% from?
http://www2.firstdirect.com/1/2/mortgages/repaymen...
Valid point, well made. I'm looking at an offset... http://www2.firstdirect.com/1/2/mortgages/offset-m...http://www2.firstdirect.com/1/2/mortgages/repaymen...
NoelWatson said:
As for fix, depends how much premium you are prepared to pay for peace of mind.
Yep. As I'm just coming out of a 6% fix, anything is an improvement rate-wise, and the base rate has to come up a fair way to get me back to where I am now (on the 1.99% above rate). Decisions-decisions.Actually I'd value any opinion on use of an offset. I have a stash of cash equal to about 40% of my loan, currently in ISA, so I'd lose tax-free status on it, but I figure it is worth far more against the loan at present?
I'm currently overpaying on my monthly payment by almost 100% - is it sensible to keep doing that with an offset, or is it better to put that overpayment into the offset? Perhaps a bit of both might be a good approach.
DH2
Edited: 300 posts in just over 8 years, get me!
Edited by DH2 on Friday 28th May 13:22
LOL 300 posts!
We're just coming out of an offset which was best at the time - over 40% of the loan in FD accounts and overpayment has made a big difference to the capital sum.
At this point in time and due to the fuzzy, slightly cloudy crystal ball the tracker appears to be a good option, even if the rates do climb the overpayment is sufficiently flexible to accomodate quite a severe base rate rise.
We're just coming out of an offset which was best at the time - over 40% of the loan in FD accounts and overpayment has made a big difference to the capital sum.
At this point in time and due to the fuzzy, slightly cloudy crystal ball the tracker appears to be a good option, even if the rates do climb the overpayment is sufficiently flexible to accomodate quite a severe base rate rise.
NoelWatson said:
Ranger 6 said:
it's getting the best value product
I think it is, assuming you are happy with trackerFour or five years ago I took out a lifetime 0.49 over BOE base tracker and I am pleased I did, for obvious reasons.
Trackers don't work for everyone though. If mortgage rate increases were likely to cripple me, I'd look a lot more closely at fixes.
Manks
d..... [/python]NoelWatson said:
squeezebm said:
Reading this, I should be happy with my lifetime .99% above BOE base then ???
Yes, but weren't there some that got below base on a lifetime tracker?Edited by squeezebm on Saturday 29th May 14:48
Manks
Vron said:
deevlash said:
squeezebm said:
Reading this, I should be happy with my lifetime .99% above BOE base then ???
me tooEdited by squeezebm on Saturday 29th May 14:48
Manks
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